Rochester, Minn.-based Mayo Clinic is creating and funding more companies as government support for research dries up, Global Venturing reported.
The health system launched its Mayo Venture Partner program in May to commercialize Mayo innovations, coinvest in promising startups and build new ventures.
“Mayo is at a time of tight capital markets and increased scrutiny from a [National Institutes of Health] funding perspective and a flight to quality in the capital markets,” Audrey Greenberg, one of three inaugural Mayo Venture Partners, told the news outlet. “So Mayo is really doubling down and standing behind its innovative technology.”
The Trump administration has canceled billions of dollars of NIH grants this year, leaving academic medical centers scrambling for research funding.
The Mayo Venture Partner program plans to focus on diagnostics, AI and digital health, and tech-enabled therapeutics, according to the Aug. 25 article.
